Demand

• The Ipad originated in 2010 and has consistently been the leader in the market for tablets.•This PPT will be based on the market for Ipads.

The Market for the IPad

•Find 3 products, such as the ones below, that would be considered complements to the Ipad. Find and paste pictures on the next 3 slides and type a description of how these products are complementary to the IPad.

Part 1: Complementary Products

Complementary Product 1

Type description here

Complementary Product 2

Type description here

Complementary Product 3

Type description here

Answer the following: Compliments to the Ipad will most likely experience an

______________in demand because of the popularity of the Ipad. Show how a change in demand for the Ipad would shift the curve

below Move curve and arrow in the direction of the shift.

Complimentary Products

D1

Quantity of Compliments

Price

D2

•Find 3 products that would be considered substitutes to the Ipad. Paste their pictures on the next 3 slides and type a description of how these products are substitutes to the IPad.

Part 2: Substitute Products

Substitute Product 1

Type description here

Substitute Product 2

Type description here

Substitute Product 3

Type description here

Answer the following: Substitutes are likely to cause a ______________in demand for iPad. Show how the change in demand would shift the curve below

Move curve and arrow in the direction of the shift.

Substitute Products

D1

Quantity of IPads

Price

D2

Find pictures online to describe the following scenarios

Show the result of the scenario by shifting the curve in the correct direction.

1. Consumer Income2. Price of Related Products3. Consumer Tastes4. Consumer Expectations5. Population

Part 3: Determinants of Demand

Scenario: US consumers experience an increase in general levels of income.

Consumer Income

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: A recession causes US consumers to experience a decrease in general levels of income.

Consumer Income

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: Gatorade raises their prices. People begin buying Powerade. Show the demand curve for Powerade

Price of Related Products

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: Pepsi lowers their prices. People stop buying Coke. Show the demand curve for Coke.

Price of Related Products

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: People find out that Oranges have health benefits that fight cancer.

Consumer Tastes

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: A successful advertising campaign attracts many consumers to the tablets. Desktop PC’s become less popular.

Consumer Tastes

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: Ford announces a brand new model of the F150. Show the curve for consumption of the old F150.

Consumer Expectations

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: Consumer’s expect the price of meat to rise in the next 6 months. Show the demand curve for meat today.

Consumer Expectations

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: Apple’s Ipad received approval to be sold in China. Population

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Scenario: Glynn County experiences a decrease in population.Population

D1

Quantity of Consumer Goods

Price

D2

Place Picture Here

Imagine that your income just increased. Find a good that you would buy more of (normal good) and a good that you would buy less of (inferior good).

Consumer Income

Place Picture of Normal Good Here

Place Picture of Inferior Good Here

Type description here of what makes these goods “normal” or “inferior”

List a product that you own and a complement to that product below.

Price of Related Goods

Place Picture of Product Here

Place Picture of Compliment Here

Type description here of what makes these goods “compliments”

List a product that you own and a substitute to that product below.

Price of Related Goods

Place Picture of Product Here

Place Picture of Substitute Here

Type description here of what makes these goods “substitutes”

List a product that you owned in your past that you would no longer purchase. Then list a product that you either want or have and is popular today.

Consumer Tastes

Place Picture of Past Product Here

Place Picture of Popular Product Here

Type description here of what made your taste for that product change

List a product that you owned in your past. Then list a picture of an update/innovation to that product.

Consumer Expectations

Place Picture of Past Product Here

Place Picture of Innovative Product Here

Type description here of how the product became innovative and why you would no longer have the demand for the original product

List a scenario where the number of buyers increased and caused the demand for other products to go up as a result.

Population

Place Picture of Increase in Population Here

Place Picture of Products that Will Experience and Increase in Demand Here

Type description here of why population increases caused the demand for goods and services to change